Monthly Assessment Change

After reviewing the association’s available cash on hand for 2014 which was drastically affected by the replacement cost of the roof on building A in 2013 and the still pressing need to replace the roof on building D as soon as possible, the Board of Directors deems it necessary to increase the monthly assessment for a twelve (12) month period to pay for the next roof replacement. As it is recognized that this cost is best paid over time and with notice enough to prepare for all homeowners, this increase will not start for six (6) months and will be spread over a one (1) year period. As the Board of Directors, we are committed to maintaining your investment and keeping Heritage Village a wonderful place to live.
To meet these costs and commitments, starting August 1, 2014 and ending July 31, 2015 (twelve months), the Board of Directors, pursuant to the Declaration of Covenants, Conditions and Restrictions (CC&Rs) hereby authorizes an increase in the per unit monthly assessment of twenty-five dollars ($25.00). This will increase the monthly assessment for this time period to one hundred twenty-five dollars ($125.00) per month.
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